Or it could hug the Jersey Shore – becoming a much weaker storm because its eye would be over the ocean.

Isabel is the first major hurricane to threaten the mid-Atlantic since Floyd wreaked havoc on the region in September 1999, causing 56 deaths.

Even though a direct hit on the Big Apple is unlikely, people are taking Mayor Bloomberg’s advice to be prepared.

At two restaurants on the East River – The River Café under the Brooklyn Bridge and The Water Club at 34th Street – workers were stringing cables and installing bilge pumps.

“We have to stand against the storm,” said owner Buzzy O’Keefe. “We’re in the river, so we have to withstand the storm.”

At the Home Depot in Sheepshead Bay, manager Al Deluca said he’s sold a lot of batteries, flashlights, trash cans and duct tape.

“I think there’s a lot of fear after the blackout and people are taking precautions,” he said.

Jose Lopez, Home Depot’s vice president for the New York metropolitan region, said people are also buying more sump pumps, generators and plywood.

“We’re seeing an uptick in traffic, more than on a normal Monday,” he said. “I don’t see panic. People are being pro-active.”

There may not be panic, but Andrew Heiberger, CEO of the Citi Habitats real-estate brokerage, suffered sticker shock when he went to buy 160 sheets of plywood for his two homes in Westhampton.

He thought the price would be $920, but the bill turned out to be $4,200.

At first, Heiberger thought it was price gouging. But then he learned there was another reason for the sharp jump in prices – Iraq. Lumberyards have been shipping plywood to Iraq for the rebuilding effort.